The real estate market in Ottawa is expected to see some positive trends in 2025. According to forecasts, home sales and prices are anticipated to be on the upswing. Here are some key points:
- Home Prices: The aggregate price of a home in Ottawa is expected to increase by about 4% year-over-year to approximately $803,712. Single-family detached homes are projected to see a 5% increase to around $935,340, while condos are expected to rise by 3% to about $407,365.
- Market Activity: There is likely to be a moderate uptick in home prices as more buyers enter the market, driven by recent interest rate cuts. First-time buyers, retirees, and distressed-sale buyers are expected to drive market activity.
- Market Balance: Ottawa’s market is expected to remain balanced, with a slight increase in inventory. The number of sales transactions is projected to increase by 5.5%, and the number of new listings is also expected to rise by 5.5%.
- Neighborhood Trends: Suburban neighborhoods like Kanata, Barrhaven, and Orleans are likely to see increased activity due to their family-friendly environments and larger properties.
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